Google Shares Split

Google Shares Split. 

Google will split their shares today with investors will receive one class-C share for each class-A and class-B shares they own. The split will allow founders Larry Page and Sergey Brin to maintain control of the company through their class B shares they currently hold. The class-C shares will have no voting rights. Both class-A and class-C share will be included in the S&P 500 index. The class- A shares will trade under the ticker (GOOGL) and the class-C shares will trade under (GOOG) ticker. Both classes of shares are expected to trade with little spread to each other. As part of a settlement with investors the company agreed to reimburse holders of the class C shares should they fail to trade in line with the existing A shares.

Upgrades:

Eli Lilly (LLY): Cowen & Company raised their rating from Market Perform to Outperform and placed a target price of $68.00 on the company.

Monsanto (MON): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $125.00 on the company. Pre-market: 116.00 +1.58 (1.38%)

Downgrades:

BB&T Corp (BBT): Raymond James lowered their rating from Strong Buy to Outperform and placed a target price of $44.00 on the company.

CSX (CSX): Barclays lowered their rating from Overweight to Equal Weight and placed a target price of $30.00 on the company. Pre-market: 28.92 -0.30 (-1.03%)

Deutsche Bank (DB): Morgan Stanley lowered their rating from Overweight to Neutral. Pre-market: 45.13 -0.90 (-1.96%)

Royal Caribbean (RCL): Swedbank lowered their rating from Buy to Neutral. Pre-market: 56.14 -0.43 (-0.76%)

Coverage Initiated:

Altera Corp (ALTR): Piper Jaffrey initiated coverage with an Overweight rating and target price of $41.00.

Altera Corp (ALTR): FBR Capital initiated coverage with an Outperform rating.

BP p.l.c (BP): BMO Capital initiated coverage with a Market Perform rating. Pre-market: 48.33 -0.11 (-0.23%)

ConAgra (CAG): Morgan Stanley initiated coverage with an Equal Weight rating and target price of $30.00.

ConocoPhillips (COP): BMO Capital initiated coverage with a Market Perform and target price of $70.00.

Chevron (CVX): BMO Capital initiated coverage with a Market Perform and target price of $125.00.

Total (TOT): BMO Capital initiated coverage with an Outperform. Pre-market: 65.86 +0.06 (0.09%)

W.P. Carey (WPC): Capital One initiated coverage with an Equal Weight and target price of $64.00.

Earning Reports:

Greenbrier Comp (GBX): Reported EPS of $0.51 missing estimates by -$0.10. Pre-market: 45.74 -1.97 

Perry Ellis (PERY): Reported EPS of $0.06 beating estimates by +$0.03. Pre-market: 14.55 +0.30 (2.11%)

Markets: 
Futures at 8:36: Dow +0.05%. S&P 0.00%. Nasdaq -0.01%. Crude -0.12% to $99.48. Gold -0.60% to $1283.10. U.S. 10 Year -1/32 to 2.800%

Europe: London +0.10%. Paris +0.23%. Frankfurt +0.17%. 

Asia: Japan +0.84% to 15072. Hong Kong +0.18% to 22565. China -0.74% to 2044. India -0.19% to 22509. 

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Microsoft Paying Companies to Make Windows Phones

Microsoft Paying Companies to Make Windows Phones. Unconfirmed reports say that Microsoft (MSFT) will reportedly make $2.6B in "support" payments to Smartphone manufactures persuade them to make one Windows Phone each. Some may call it a bribe and others say it’s a sign that Microsoft has lost the mobile device wars. Samsung (SSNLF) will receive $1.2B, Sony (SNE) $500M, Huawei $600M and others will receive $300M. Pre-market: 36.69 -0.07 (-0.19%)

Upgrades:

AOL (AOL): CRT Capital raised their rating from Fair Value to Buy and placed a target price of $57.00 on the company. Pre-market: 48.25 +1.00 (2.11%)

Big Lots (BIG): Raymond James raised their rating from Underperform to Market Perform.

CSX Corp (CSX): Argus raised their rating from Hold to Buy and placed a target price of $35.00 on the company. Pre-market: 27.69 -1.54 (-5.27%)

Micron Tech (MU): JMP Securities raised their rating from Market Perform to Outperform and placed a target price of $31.00 on the company. Pre-market: 23.45 +0.12 (0.51%)

Downgrades:

CSX Corp (CSX): Stifel lowered their rating from Buy to Hold. Pre-market: 27.69 -1.54 (-5.27%)

Diageo PLC (DEO): JPMorgan lowered their rating from Overweight to Neutral. Pre-market: 129.23 -1.45 (-1.11%)

Dollar General (DG): ResearchTeam lowered their rating from Hold to Reduce.

EMC Corp (EMC): Monness Crespi lowered their rating from Buy to Neutral. Pre-market: 26.18 -0.11 (-0.42%)

Family Dollar (FDO): Raymond James lowered their rating from Market Perform to Underperform.

Kroger (KR): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $48.00 to $39.00.

Norfolk Southern (NSC): Stifel lowered their rating from Buy to Hold. Pre-market: 89.35 -1.81 (-1.99%)

Coverage Initiated:

Buffalo Wild Wings (BWLD): CLSA initiated coverage with an Outperform rating.

Twitter (TWTR): Telsey Advisory initiated coverage with a Not Rated rating and a target price of $70.00. Pre-market: 61.20 -0.37 (-0.60%)

Earning Reports:

BB&T Corp (BBT): Reported EPS of $0.75 beating estimates by +$0.03.

BlackRock (BLK): Reported EPS of $4.92 beating estimates by +$0.59. Pre-market: 324.26 +11.51 (3.68%)

Citigroup (C): Reported EPS of $0.82 missing estimates by -$0.16. Pre-market: 53.25 -1.74 (-3.16%)

Goldman Sachs (GS): Reported EPS of $4.60 beating estimates by +$0.42. Pre-market: 179.00 +0.25 (0.14%)

Huntington Banc (HBAN): Reported EPS of $0.18 beating estimates by +$0.01. Pre-market: 9.74 -0.16 (-1.62%)

PNC (PNC): Reported EPS of $1.85 beating estimates by +$0.22. Pre-market: 80.69 +1.85 (2.35%)

PPG Industries (PPG): Reported EPS of $1.81 beating estimates by +$0.08. Pre-market: 192.00 +1.30 (0.68%)

UnitedHealth (UNH): Reported EPS of $1.41 beating estimates by +$0.01. Pre-market: 73.00 -1.84 (-2.46%)

Markets: 
Futures at 8:00: Dow -0.10%. S&P -0.18%. Nasdaq -0.03%. Crude +0.28% to $94.42. Gold -0.09% to $1234.40. U.S. 10 Year +7/32 to 2.871%.

Europe: London +0.06%. Paris -0.19%. Frankfurt -0.22%. 

Asia: Japan -0.39% to 15747.2. Hong Kong +0.37% to 22986. China +0.02% at 2024. India -0.11% to 21265. 

#RLPaler #WallStreet #PreMarket #WealthManagement #EarningReports #AnalystsRatings